ChainCatcher message, LayerZero has launched a second referendum on whether to activate the "fee switch." The vote will determine whether to activate the LayerZero protocol fees, which will be used to buy back ZRO and burn it. Voting will end on June 27.

ChainCatcher message, Usual announced on social media the launch of the "Revenue Switch" mechanism, which will directly distribute protocol revenue to $USUAL stakers. The activation condition is that over 50% of $USUAL is staked as USUALx, or it will automatically start on February 1, 2025.Once the mechanism is activated, up to $5 million in protocol revenue will be distributed entirely in USD0 to USUALx stakers each month. Rewards are only available to users who continuously stake throughout the entire monthly cycle; withdrawing in the middle will result in the loss of eligibility for that period's earnings. Currently, the protocol has generated over $20 million in revenue awaiting distribution.

ChainCatcher message, RWA stablecoin protocol Usual hinted on Twitter that the token fee switch will be activated: "The era of fee switches begins. 2025 marks a turning point for DeFi: real value, real distribution. On January 7, get ready with your USUAL."

ChainCatcher message, the voting on LayerZero's "Enable Fee Switch" proposal has ended. Due to the lack of a quorum, the LayerZero protocol fee switch will remain off, and the next vote will take place in six months.

ChainCatcher news, Risitas Capital shared that LayerZero (ZRO) will hold a public referendum on December 19 to initiate fee conversion.According to previous official documentation, ZRO holders will always control the accumulation of protocol fees. An immutable voting contract enforces a public on-chain referendum every six months, allowing ZRO holders to vote on whether to enable or disable the protocol's fee switch.The LayerZero protocol may charge fees equal to the total cost of validating and executing cross-chain messages. For example, if the DVN and executor configuration chosen by the application charges a fee of $0.01 for transactions between Arbitrum and Optimism, LayerZero may also charge a fee of $0.01.If the fee switch is activated through governance, the referendum treasury contract will collect fees on the local chain and burn those fees.

ChainCatcher news, Aave Chan Initiative founder Marc Zeller tweeted that Aave may vote to decide whether to activate the "fee switch" and allocate fees to Aave stakers. The current net profit of Aave DAO totals approximately $60 million per year, which can cover five years of operating costs. In addition, he stated that a temperature check vote to activate the "fee switch" will take place next week.

ChainCatcher news, Uniswap will initiate on-chain voting for the "fee switch" proposal in 14 days. A technical investigation is currently underway to ensure the proposal's format is correct. Once voting begins, UNI token holders will have 7 days to cast their votes.The proposal aims to provide Uniswap with an opportunity to test selected liquidity pool parameters, including 0.05% DAI-ETH, 0.3% ETH-USDT, and 1% USDC-ETH. The Uniswap treasury will charge a 10% fee on these 3 liquidity pools.It is reported that on August 10, Uniswap's "fee switch" proposal passed the consensus check vote, having previously passed the temperature check vote. The Alsator team released the "Uniswap Fee Conversion Report" earlier this month, which primarily states that the fee conversion should aim to increase the trading volume and market share of the Uniswap protocol. (source link)